Cost of Living in Monroe, LA

With a cost of living index of 69, Monroe, LA is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 6% below the Louisiana state average of 74. With a population of 47,241, Monroe is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Monroe's cost of living. The median monthly rent is $823 (38% below the US median of $1,319), and the median home value sits at $174,800 (43% below the national median of $304,900). At current prices, the median home costs roughly 4.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Monroe is $36,521, which is 51% lower than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Monroe. The area sees an average annual temperature of 65.7°F, with summers averaging 82°F and winters around 49°F. Annual rainfall totals 55.1 inches spread over roughly 106 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Monroe, LA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.